What is homestead exemption? If you own your home, reside there permanently and are a Florida resident as of Jan 1, you may qualify for homestead exemption. Homestead can reduce your taxable value on your home as much as $50,000 - saving you approx $750 annually. More importantly, your assessed value – the value used to calculate your property taxes - cannot increase more than 3% annually after you are granted the exemption.
Who is eligible to file? You must meet the following requirements as of Jan 1:
- Have legal title to the property recorded with Orange Co
- Reside on the property
- Be a permanent resident of Florida
- Be a US citizen or possess a Permanent Residence Card (green card)
When do I file? The deadline to file an application for exemption is Mar 1. Under Florida law, failure to file for any exemption by Mar 1 constitutes a waiver of the exemption privilege for the year. Regular filing is Jan 2 to Mar 1. Pre-filing for the coming year is Mar 2 to Dec 31.
How do I file? Orange Co Property Appraiser office mails all new homeowners a packet six to eight weeks after their deed is recorded in the county records. This packet includes instructions on how to apply online, by mail or in person.
More info from Orange Co Property Appraiser.
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